1. Open the back panel and get serial connections where printed "SERIAL DEBUG" Tx, Rx, GND (from L to R). I used "FTDI Basic Breakout - 3.3V" at hand with power supply from USB port
2. Get your password with Python script:

And before anyone asks with a crazy idea of downgrading to a JB-friendly PW2 Firmware: big nope.

Code:

UPDATE_ERROR_DOWNGRADE_ATTACK=0xC

'ATTACK'. Why so serious, lab126? .

I am puppy sitting for a neighbor this month and have nicknamed him: "Lab126"
(No - he isn't a Lab - he is an American Bull Terrier - busy digesting the last person that tried to break into neighbor's house.) (A.K.A: Pit Bull & Texas Welcome Mat)

once you connect with the serial cable, and get the password, and have root access, is 'rooting'/jailbreaking the device easy/simple - the same everytime?
since, from what i understand, this is not an exploit, so, once you actually give yourself root permissions how can you keep it that way?